We all have an innate need for the approval of others. We want people to like us. Many of us take it personally if even one person doesn't find us groovy.
"It's not personal, Sonny ... It's strictly business."
~ Michael Corleone
But as marketers, it isn't personal ... it's strictly business. Yet, we focus so much of our attention and energies on trying to make sure that every single person in our communities love us. Seriously, how many times have you discussed changing a policy because 3 or 4 people complained?
“Criticism is something you can easily avoid by
saying nothing, doing nothing, being nothing.”
~Aristotle
Aristotle ... if nothing else, THAT cat knew branding!
From a branding perspective, we are trying too hard to be all things to all people and trying so hard to avoid criticism that we become branding's brown paper bags.
So, here's the beautiful truth ... as a public service to help you sleep better at night.
In most larger markets, if you have only 30% market share, you will be the largest institution in town. With only 15% market share, you'll typically be #2.
Whew! Think about the weight that just lifted! If 1 in every 3 people like you enough to do business with you ... You win! If 1 in 10 like you, you're doing GREAT!
To have an impactful brand, stop trying to appease everyone and be something meaningful to a focused group of people.
So now that we know that not everyone will ever love us, who do we focus on?
Check out these blogs on segmentation:
Identify who your desired target is, learn what they want from you, determine if you can provide it, then make darn sure that you are THAT thing down to your very soul. With every interaction, every new hire, every policy and every message.
We bring these marketing philosophies to credit unions and community banks nationwide, and would love to bring them to your institution too. Contact us to see how.
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MarketMatch is also a nationally and internationally requested speaker. Contact us to bring our marketing ideas to your next conference.
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